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Southeast Asia’s Largest Bank DBS Unveils Plan to Expand Crypto Services in Hong Kong

DBS Group Holdings has unveiled its plan to expand its services in Hong Kong. The Straits Times reported Monday that the bank plans to apply for a license to offer crypto trading services to Hong Kong customers. Headquartered and listed in Singapore, DBS is the largest bank in Southeast Asia with a presence in 18 markets.

Sebastian Paredes, CEO of DBS Bank (Hong Kong), said at a briefing on Monday:

We are planning to apply for a license in Hong Kong so that the bank could sell digital assets to our Hong Kong customers.

The executive stated that once the regulations around crypto assets in Hong Kong are clear and the bank “understands exactly the framework,” DBS will be among the lenders interested in participating. He noted that while DBS is aware of the risks associated with digital assets, the bank is supportive of Hong Kong’s recent policy shift.

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